Bank of America lowered shares of Triton International (NYSE:TRTN) from a buy rating to an underperform rating in a research note released on Monday, February 4th, Marketbeat.com reports. They currently have $32.00 target price on the stock, down from their prior target price of $35.00.
TRTN has been the subject of a number of other reports. Zacks Investment Research reiterated a buy rating and set a $39.00 price target on shares of Triton International in a report on Saturday, November 17th. ValuEngine upgraded Triton International from a strong sell rating to a sell rating in a research note on Wednesday, December 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $35.75.
NYSE TRTN traded up $0.60 on Monday, hitting $33.51. 279,097 shares of the company were exchanged, compared to its average volume of 505,569. The company has a current ratio of 2.17, a quick ratio of 1.38 and a debt-to-equity ratio of 3.24. Triton International has a twelve month low of $28.20 and a twelve month high of $39.56. The company has a market cap of $2.64 billion, a PE ratio of 7.41, a PEG ratio of 0.72 and a beta of 2.39.
Triton International (NYSE:TRTN) last announced its quarterly earnings results on Thursday, February 14th. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.11. Triton International had a return on equity of 15.60% and a net margin of 25.89%. The business had revenue of $355.40 million during the quarter, compared to analysts’ expectations of $359.00 million. During the same quarter in the previous year, the business posted $0.85 EPS. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. Research analysts forecast that Triton International will post 4.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Tuesday, March 12th will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 11th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 6.21%. Triton International’s dividend payout ratio (DPR) is presently 46.02%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. grew its stake in shares of Triton International by 114.8% in the fourth quarter. Meeder Asset Management Inc. now owns 797 shares of the company’s stock worth $25,000 after purchasing an additional 426 shares during the last quarter. IMS Capital Management purchased a new stake in shares of Triton International in the 3rd quarter valued at approximately $44,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Triton International in the 4th quarter valued at approximately $76,000. Bank of Montreal Can raised its stake in shares of Triton International by 15.0% in the 4th quarter. Bank of Montreal Can now owns 3,174 shares of the company’s stock valued at $99,000 after acquiring an additional 414 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Triton International by 8.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,468 shares of the company’s stock valued at $140,000 after acquiring an additional 358 shares during the period. Hedge funds and other institutional investors own 65.54% of the company’s stock.
About Triton International
Triton International Limited engages in the acquisition, leasing, re-leasing, and sale of various types of intermodal transportation equipment to shipping lines, and freight forwarding companies and manufacturers. It operates in two segments, Equipment Leasing and Equipment Trading. The company primarily leases dry freight, refrigerated, special, and tank containers; and chassis used for the transportation of containers, as well as manages containers owned by third parties.
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